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Fiscal Analysts Predict $4.2B State Revenue Shortfall From 2019-2021

Fiscal Analysts Predict $4.2B State Revenue Shortfall From 2019-2021

The state should expect at least a $4.2B shortfall in General Fund revenue collections from 2019-2021, according to the latest Consensus Revenue Forecast shared with lawmakers on Tuesday. Nonpartisan fiscal research staff said the forecast had been revised this month to show an estimated $1.64B revenue shortfall in FY 2019-20 and an additional $2.57B revenue shortfall in 2020-21 due to COVID-19.